The Board of Arman Financial Services approves the issue of securities

Photo: Shutterstock

In session held on August 14, 2022

The Arman Financial Services Board at its meeting held on August 14, 2022 has approved the following:

Issue of up to 2,17,884 Compulsorily Unsecured Convertible Debentures of the Company of face value of Rs.1,230 crore with a maximum aggregate amount of such CCDs of Rs.26.79 crore.

Issue of up to 3,21,134 Cumulative Redeemable Optionally Convertible Non-Participating Preference Shares of the Company of the face value of Rs.10 each at a premium of Rs.1,220 per share for a total maximum amount of this OCRPS of Rs.39.49 crore .

The Board also approved the reclassification of the authorized share capital of the company from dividends of Rs 15 crore on equity shares of Rs 10 crore each to dividends of Rs 15 crore on 1.4 crore equity shares of 10 rupees each and 10 lakh redeemable optionally convertible preference shares of Rs. 10 each

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)

dear reader,

Business Standard has always gone to great lengths to provide up-to-date information and commentary on developments that matter to you and have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only made our determination and commitment to these ideals stronger. Even during these difficult times resulting from Covid-19, we remain committed to keeping you informed and up-to-date with credible news, authoritative opinion and incisive commentary on relevant topical issues.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more so we can continue to bring you more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve our goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

Support quality journalism and subscribe to Business Standard.

Digital editor


Source link

You May Also Like

About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!